AAPL – Apple Computer (Last:442.80)

Apple is one of the few stocks that actually budged yesterday, for whatever reason.  Bulls shouldn’t break out the bubbly just yet, though, since the stock will need to hit 484.95 to turn the weekly chart impulsively bullish (see inset).  Moreover, the part of the rally between the two labeled peaks would need to be uncorrected in order to imply that the bear market in this stock is over. The trajectory of the rally is too steep to afford an easy entry, even by camouflage, but I’d suggest focusing on the 30-minute chart, where some serviceable ‘external’ peaks are visible, in search of buying handholds.